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ThinkFilm Rope-a-Dope
While announcing that David O. Russell's Nailed is shooting again after last week's SAG-mandated shutdown due to actors not being paid, Variety's Dave McNary and Anne Thompson are reporting that the film's financier, Capitol Films, and its indie distributor subsidiary Thinkfilm appear to be on wobbly financial footing.
Thinkfilm "is known to owe substantial amounts to media outlets, among others," the story says. It adds that "problems emerged Thursday when ThinkFilm execs suddenly discovered there was no money for Friday newspaper ads for Then She Found Me."
The story says that lawyers for multi-hyphenate Alex Gibney threatened to take ThinkFilm into bankruptcy after the company failed to pay him his fees -- including his Oscar bonus -- after winning the Academy Award for his docu Taxi to the Dark Side."
Sources also say "the company was going to announce an acquisition from Senator Entertainment this week but then canceled its press meetings."
A nice way, all in all, for ThinkFilm to start to the Cannes Film Festival, no? The company's newly promoted president Mark Urman "will be in Cannes looking at movies, going to meetings and answering a lot of questions," the Variety story says. "But it doesn't look like he'll be buying."
Posted by Jeffrey Wells on May 13, 2008 at 2:55 AM
comment #1
vansmith
says ...
this is about the banks and the sub prime fallout, all that hedge fund cash is on shaky ground. they wont be the only ones...
Posted by vansmith
at May 13, 2008 4:06 AM
comment #2
btwnproductions
says ...
The average ThinkFilm release last about two-three weeks in New York. They've handled commendable films but how they've stayed afloat is puzzling.
Posted by btwnproductions
at May 13, 2008 5:09 AM
comment #3
corey3rd
says ...
the indie documentary world is in the dumps and this isn't a surprise.
Posted by corey3rd
at May 13, 2008 5:40 AM
comment #4
BurmaShave
says ...
I think releasing a film like THEN SHE FOUND ME in the beginning of May would be an excellent example of why ThinkFilm is floundering.
Posted by BurmaShave
at May 13, 2008 3:15 PM
comment #5
btwnproductions
says ...
THEN...opened April 25, then expanded into the maw that is May. Earlier in April would have been wiser.
Posted by btwnproductions
at May 13, 2008 3:35 PM
comment #6
btwnproductions
says ...
Expanding a bit, that in a nutshell is the company's problem: It handles a lot of these in-betweeners, neither mainstream nor arthouse. And that goes for the quality: Hunt's film is decent, but it's not good enough for end-of-year honors, either. So for the majority of viewers, it fits most comfortably in a Netflix queue or as a PPV selection.
Posted by btwnproductions
at May 13, 2008 3:44 PM
comment #7
York "Budd" Durden
says ...
Wandered over to the Nailed location today and ran into an upper level crew member with whom I've made a connection. He says that they have been told this week will continue as planned--but Friday is some sort of D-Day in terms of the production going forward.
I replied, jesus, there's a modicum of A-list talent involved in this show, surely with 1/2 of it in the can, some financing will be secured. He just gave me a shrug.
Posted by York "Budd" Durden
at May 13, 2008 5:37 PM
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